Pegasystems (NASDAQ:PEGA) Stock: Insider Dianne Ledingham Sells 1,000 Shares

Pegasystems Inc. (NASDAQ:PEGA) Director Dianne Ledingham sold 1,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $34.15, for a total transaction of $34,150.00. Following the sale, the director owned 38,280 shares in the company, valued at $1,307,262. The trade was a 2.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dianne Ledingham also recently made the following trade(s):

• On Tuesday, September 15th, Dianne Ledingham sold 1,000 shares of Pegasystems stock. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00.

Pegasystems Stock Up 1.8%

Shares of NASDAQ:PEGA traded up $0.60 during midday trading on Monday, hitting $34.53. The stock had a trading volume of 1,701,976 shares, compared to its average volume of 2,356,353. The company’s 50-day moving average price is $34.06 and its 200-day moving average price is $35.02. The company has a market capitalization of $5.68 billion, a P/E ratio of 19.51 and a beta of 0.89. Pegasystems Inc. has a fifty-two week low of $25.10 and a fifty-two week high of $68.10.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The firm had revenue of $420.72 million for the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. Research analysts expect that Pegasystems Inc. will post 1.69 EPS for the current fiscal year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.3%. Pegasystems’s dividend payout ratio is presently 6.78%.

Wall Street Analyst Weigh In

PEGA has been the topic of several recent analyst reports. Loop Capital lowered Pegasystems from a “buy” rating to a “hold” rating and decreased their price target for the company from $55.00 to $25.00 in a research note on Thursday, July 23rd. KeyCorp cut Pegasystems from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 22nd. Barclays restated an “overweight” rating and issued a $39.00 price target (down from $48.00) on shares of Pegasystems in a research note on Thursday, July 23rd. William Blair lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $47.00 price objective (down from $54.00) on shares of Pegasystems in a research report on Thursday, September 17th. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Pegasystems has a consensus rating of “Hold” and an average target price of $47.40.

Hedge Funds Weigh In On Pegasystems

Large investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Pegasystems in the second quarter worth $286,923,000. North Peak Capital Management LLC lifted its holdings in Pegasystems by 2.3% during the 4th quarter. North Peak Capital Management LLC now owns 2,400,065 shares of the technology company’s stock worth $143,332,000 after buying an additional 53,564 shares during the period. First Trust Advisors LP grew its position in shares of Pegasystems by 44.4% in the 1st quarter. First Trust Advisors LP now owns 2,048,599 shares of the technology company’s stock valued at $87,188,000 after buying an additional 630,023 shares during the last quarter. Fiera Capital Corp grew its position in shares of Pegasystems by 32.7% in the 4th quarter. Fiera Capital Corp now owns 1,113,171 shares of the technology company’s stock valued at $66,479,000 after buying an additional 274,219 shares during the last quarter. Finally, Copeland Capital Management LLC acquired a new stake in shares of Pegasystems in the first quarter valued at about $47,817,000. Institutional investors own 46.89% of the company’s stock.

About Pegasystems

Pegasystems Inc is an enterprise software company that develops applications for customer engagement, business process management and workflow automation. Its software is designed to help organizations manage complex operations, improve customer service and automate decision-making across departments and channels.

The company’s product portfolio includes Pega Platform, a low-code application development and process automation platform, as well as solutions for customer relationship management, customer service, sales automation, marketing, fraud detection and case management.